Lek strengthens positions against foreign currencies at year-end

In the foreign exchange market in Albania, on the eve of the year-end holidays, the Lek has strengthened its positions against foreign currencies.

According to the official exchange rate of the Bank of Albania, the common European currency, the Euro, is exchanged for 121.83 lekë or 0,14 lekë less than the day before.

Meanwhile, the British pound has depreciated by 0.59 lek, exchanging today at the level of 142.92 lek.

The Swiss Franc has also depreciated by 0.05 lek, which is exchanged for 111.72 lek.

Meanwhile, the American greenback has strengthened slightly by 0.03 lek and is trading at 109.56 lek this weekend.

The value of the lek against foreign currencies is determined freely in the foreign exchange market. Exchange rate fluctuations reflect the free movement of goods and capital in Albania's commercial and financial exchanges with its trading partners.

Banking experts predict fluctuations in the foreign exchange rate in the last week of December, according to them with the increase in the flow of goods and supply and demand in the market for foreign exchange, but as they say, "the fluctuations will be within the BoA's forecasts and expected rates."